Latest news with #AER
Irish Times
4 days ago
- Business
- Irish Times
Dublin-listed Aquila European Renewables hits hurdle winding down
Aquila European Renewables (AER), the UK-based green energy company that took on a secondary listing in Dublin two years ago, has hit a hurdle in its plans to wind down as the potential buyer of a large portion of its assets scaled back its bid. The company, whose shares have been rarely traded in Dublin since the dual listing, said that it has paused the sales process with the preferred bidder, who is no longer in exclusivity. Still, it says that that 'dialogue remains open' between both sides. The unnamed bidder was originally being lined up to buy less than half of its assets. Its assets had a net value of €317.4 million at the end of March. 'After comprehensive and positive due diligence by, and extensive negotiations with, the preferred bidder resulting in a broadly agreed form share purchase agreement, a revised offer from the preferred bidder has been received,' it said. 'This revised offer has seen the preferred bidder reduce the number of assets they can currently acquire, with their current available funds. The indicated acquisition price has also been further reduced.' READ MORE It added: 'The revised offer would mean a less material proportion of the portfolio would be sold and is expected to lead to a situation which is potentially prejudicial to the marketability of the balance of the portfolio.' The board will provide an update to shareholders on the sales process once the implications and alternatives have been properly explored, the company said. AER, which floated in London in May 2019, had a wind, solar and hydro power portfolio with a capacity of 435 megawatts (MW) across Scandinavia, Greece, Spain and Portugal at the end of December, according to its latest financial report. It stated at the time of the initial public offering that it would target projects in the Republic but that never materialised. AER chose to list in Dublin to enhance the company's appeal to investors across Europe while being quoted in an English-speaking market. However, it failed to boost trading in the stock. The company decided last September to put itself into wind-down as the stock had consistently traded at a discount to its intrinsic value and other headwinds. The company sold its 18 per cent interest in an almost 108MW Portugues hydropower project last month for €16.5 million, in line with the asset's valuation on its books at the end of 2024. AER is also pursuing sales processes for other remaining assets that were not part of the exclusivity talks. These include a Finnish wind asset and other unspecified projects. Shares in Aquila have fallen by 40 per cent over the past five years in London.
Yahoo
19-07-2025
- Business
- Yahoo
Those who invested in AerCap Holdings (NYSE:AER) five years ago are up 302%
When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose your money. But when you pick a company that is really flourishing, you can make more than 100%. One great example is AerCap Holdings N.V. (NYSE:AER) which saw its share price drive 297% higher over five years. It's also good to see the share price up 15% over the last quarter. But this move may well have been assisted by the reasonably buoyant market (up 20% in 90 days). Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. During the last half decade, AerCap Holdings became profitable. Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains. The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers). It's probably worth noting that the CEO is paid less than the median at similar sized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. This free interactive report on AerCap Holdings' earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further. What About Dividends? It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, AerCap Holdings' TSR for the last 5 years was 302%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return. A Different Perspective We're pleased to report that AerCap Holdings shareholders have received a total shareholder return of 21% over one year. That's including the dividend. However, the TSR over five years, coming in at 32% per year, is even more impressive. Potential buyers might understandably feel they've missed the opportunity, but it's always possible business is still firing on all cylinders. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 2 warning signs for AerCap Holdings you should be aware of, and 1 of them is significant. We will like AerCap Holdings better if we see some big insider buys. While we wait, check out this free list of undervalued stocks (mostly small caps) with considerable, recent, insider buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBC
10-07-2025
- Business
- CBC
Troubled Alberta oil and gas company faces regulatory ultimatum
An Alberta oil and gas exploration company with a nearly decade-long history of safety and environmental infractions is now facing an ultimatum from the province's energy regulator. If the Calgary-based Rally Canada Resources Ltd. fails to get its operations into compliance and post a security deposit of $1.6 million, it will be forced to suspend all operations, according to an Alberta Energy Regulator order issued June 27. Under the order, Rally Canada has been given three months to pay up, and just two weeks to submit a plan to bring its operations into compliance. The latest order sheds new light on a company that has repeatedly been sanctioned for neglecting its operational requirements. Infractions, dating back more than a decade, include toxic gas leaks, forgotten pipelines, missing financial statements and repeated refusals to co-operate with regulatory investigators. The latest order raises questions about the future of Rally Canada's assets, which include a vast network of pipelines, 300 light oil wells and nearly 50 light oil facilities near Bashaw in central Alberta, as well as Redwater and Utikuma Lake to the north. The company has not responded to repeated requests for comment. 'Unreasonable risk' According to the latest order, the company has suffered both financial and operational declines. Areas of concern identified in the AER order include its oversized portfolio of inactive wells, escalating financial liability and increasingly poor field performance. The regulator found that the majority of the company's wells, facilities and pipelines have turned sour due to the presence of hydrogen sulphide — a flammable gas known for its pungent rotten egg smell — which is hazardous to humans and the environment. The vast majority of Rally Canada's wells — about 70 per cent — are inactive and about 71 per cent of them are not compliant with suspension requirements, meaning they have not been safely shut down. The company's field inspection rating has plummeted to 23.1 per cent, compared to the industry average of 75 per cent, the order states. Production has also waned, down to an average of just 423 barrels per day in 2025 from 678 barrels per day in 2022. The company has failed to meet its mandatory closure spend quota for 2022, 2023 and 2024 — an annual sum oil and gas operators must pay to the AER for the remediation and reclamation of inactive industrial sites. Under the order, the company has 90 days to pay all outstanding environmental payments. The $1.6 million security deposit is due by Oct. 25. A plan to bring its operations into compliance must be submitted by July 11, and must include a plan to reduce the risk of pipeline ruptures and timeline for when Rally Canada's field inspection rating will be brought up to the industry average of 75 per cent. The company has been placed on a limited licence eligibility since March 2020 when AER determined that the company's operations posed an "unreasonable risk." Limited eligibility rules are designed to ensure that only responsible companies are granted the right to operate in Alberta. Companies found incapable of compliance can face restrictions on their ability to hold or access certain types of licenses or approvals. As sanctions against the company have piled up, so too have the restrictions placed on Rally Canada. Today, the company remains prohibited from obtaining any new well, facility or pipeline license. The order is among more than 20 formal sanctions or letters of warning the company has faced for breaches since 2016. Most recently, last September, the company was issued a notice of non-compliance for conducting unsafe excavation work adjacent to one of its pipelines and for failing to report the infraction to the AER. Corrosion concerns In 2020, it faced another notice of non-compliance in Strathcona County, for operating discontinued metallic pipelines. The investigation found the company did not investigate the need for internal corrosion mitigation measures within their metallic pipes, leaving them susceptible to rusting from the inside out. The company was issued another warning letter in 2020 for its facility near Bashaw. The investigation began following a complaint from the public in April 2018 about how the site had been flaring, uninterrupted, for two weeks. The investigation found that the company had flared hydrogen sulphide gas from its sites repeatedly at concentrations above allowed limits. Rotten eggs, neglected lines In 2021, the company was fined $5,000 for a pipeline infraction at a site in Lacombe County in October 2019. For over a year, the company had neglected to shut down a pipeline, and it had begun to leak sour gas. The investigation followed a public complaint and found that nearby residents were being exposed to strong and hazardous sour gas odours, resulting in burning eyes, cough and runny noses. "However, the nature of these reported impacts appears pale in comparison to the potential for loss of damage," the order reads. Investigators found that the company intended to reactivate the defunct pipeline, but while the company underwent a management change, the pipeline was simply forgotten about. Rally Canada did not have a system to keep track of which pipelines were not in active service, the investigation found. The company was ordered to address 26 pipelines that were in a similar state of neglect. The AER found that issues were "systemic" and admonished the company for a lack of due diligence. Rally Canada has been placed on "Global Refer" status since 2023, signifying that the regulator no longer believes the company is willing or able to comply with regulatory requirements.
Sky News AU
08-07-2025
- Business
- Sky News AU
Thousands already in energy debt face further hardship as electricity bills surge across Australia
Australians are attempting to adapt to a fresh financial blow following electricity price hikes which officially kicked in on July 1, affecting millions of households nationwide. The increases announced by the country's largest electricity providers - AGL, Origin, and EnergyAustralia - are already being felt across New South Wales, Queensland, South Australia, Victoria, and the ACT, with average bills rising between $110 and $300 per year depending on the provider and state. According to the Australian Energy Regulator (AER), the cost increases follow updated default market offers and reflect higher wholesale energy prices, increased network charges, and customer service costs. With these rising prices, the AER's latest quarterly data revealed that more than 215,000 Australians are currently in energy debt - a number that rose by 7 per cent from the previous quarter, while Canstar Blue data insights director Sally Tindall said more than four million households will see their electricity prices rise. The average household energy debt now sits at $1,415, up $309 year-on-year. Shadow energy and emissions reduction minister Dan Tehan slammed the Albanese government for breaking its promise regarding rising energy bills, with the Liberal MP demanding an apology to the Australian people. 'Labor's promise that electricity prices would be $275 cheaper this year was a lie and Climate Change and Energy Minister Chris Bowen should apologise,' Mr Tehan told 'Instead, since Labor was elected, electricity prices across the National Energy Market increased by up to $1,058 in New South Wales, $684 in Queensland and $747 in South Australia. Prices are up to $1,300 more than what Labor promised they would be." Mr Tehan criticised the Energy Minister Mr Bowen stating that his only approach was disrupting the energy system and leading to higher electricity prices for Australian families. 'There is no transparency about the true costs to consumers of Labor's renewables only approach and underwriting renewable energy projects using taxpayer money,' he said. Alongside this financial increases, Anglicare Australia's 2025 Cost of Living Index paints another bleak picture for low-income earners, stating that a full-time worker on the minimum wage has just $33 left each week after rent, food, and transport. For a single parent, that number drops to just $1, even with government support. 'After paying the basics, minimum wage, workers are left with almost nothing. In many cases, there's no money left for energy bills at all,' Anglicare executive director Kasy Chambers said. 'We're seeing more people trapped in energy debt. They are skipping meals, going without heating, and falling behind on bills they'll never be able to repay.' Chambers also revealed that more than 330,000 customers collectively owe $300 million to energy retailers, with debts over $3,000 rising sharply. To address rising hardship, new regulations by the Australian Energy Market Commission will limit retailers to one price increase per year, ban most late-payment penalties, and compel companies to move vulnerable customers to their best available plans. Speaking to ABC News Radio on June 26, Australian Melissa Fisher revealed the tough choices she already has to make everyday due to the mounting pressure of her energy bill. 'If an emergency happens and I miss one payment, they can now cut me off, so that has to come before anything else. I've had to sell some stuff and not eat properly. The first thing we had to cut back on was groceries and medication,' she said. AGL customers in New South Wales are facing the steepest increases, with prices up by 13.5 per cent, adding around $267 annually for average usage. For high-use customers, the figure could climb to $300. In South Australia, bills are rising by 7.8 per cent, or $200 annually, while Queensland households will see a 7.5 per cent increase, amounting to an additional $155 per year. 'AGL is committed to supporting customers experiencing cost-of-living pressures with $85m of the $90m FY24 and FY25 Customer Support Package delivered to date, and we will continue to deliver programs to support our customers over the next 12 months,' the company said in a statement last June. Origin Energy, the country's largest retailer, is increasing market plan prices by 9.1 per cent in NSW ($216 more annually), 5.5 per cent in South Australia ($122), and 3.1 per cent in southeast Queensland ($72). Victorians will see the same increase from August 1, while gas prices in the state are already set to rise by $85 per year. EnergyAustralia customers are also facing steep rises. NSW households will be hit with an 8.7 per cent increase ($215), ACT customers face a 11.6 per cent hike ($231), Victorians will see 2.3 per cent ($47), and Queensland and South Australia will follow with increases of $53 and $73, respectively, from September 1. The average household on a default plan in NSW, southeast Queensland, and South Australia will pay up to $228 more per year as a result of the AER's revised default market offer. While the federal government has extended its $75-a-quarter energy bill relief until the end of the year, many argue that the assistance won't be enough to cushion the full impact of these hikes.
CBC
04-07-2025
- Business
- CBC
Suncor fined after protected bird nests were buried at Alberta oilsands mine
Oilsands giant Suncor has been fined $5,000 for burying known habitat for bank swallows during mining operations in northern Alberta three years ago. The Calgary-based company was issued the penalty by the Alberta Energy Regulator last week for an incident near Fort McMurray in June 2023. The regulator fined the company for failing to ensure that critical bird habitat was protected from ground excavation operations at the mining site. According to the investigation, material was placed over a bank known to be used by bank swallows as a nesting site, likely killing or injuring the birds and destroying their nests. The company failed to complete a required wildlife sweep of the site before the bank was buried, the investigation found. A 100-metre buffer that should have been maintained around the nests, a requirement under federal environmental laws, was not enforced, the AER ruled. "There is no direct evidence of destroyed nests or dead bank swallows," Candace MacDonald, a director of field operations for AER, wrote in her penalty decision against the operator. "However, the potential for the bank swallows to have become injured or killed and nests destroyed by the disturbance in these circumstances is highly probable." Alberta's oilsands industry has faced scrutiny and investigations for a string of bird death incidents. Suncor, among the largest operators in the oilpatch, has a history of such infractions. In 2017, 123 birds were reported dead at the company's Fort Hills oilsands project. More recently, in May 2023, more than 30 birds, including sensitive waterfowl species, were found dead at Suncor's tailings ponds sites in northwestern Alberta. In the investigation of the incident involving bank swallows, Suncor told the regulator that they could not be certain whether the nests were active or not when the bank was buried. The only way to find out would be to dig up the area, which the regulator determined would likely cause more harm to the already damaged habitat. Cyberattack blamed CBC News sought comment from Suncor on the penalty but did not receive a response. During the course of the AER investigation, company officials blamed the incident on a cyberattack that left its wildlife monitoring systems inaccessible. Documents show the penalty for the infraction was elevated because of Suncor's lack of due diligence following the cyberattack and the bird's fragile conservation status. Bank swallows, which commonly nest near water and excavate burrows into the soil, are listed federally as a threatened species. Bank swallows are also protected as a migratory species under the federal Migratory Birds Convention Act. The Alberta government has classified the species as sensitive since 2015, as losses in recent decades have left local populations vulnerable to human and industrial disturbance. These protected statuses indicate a need for a "heightened awareness" around this species, the regulator found. "The requirement to conduct a wildlife sweep or walkthrough before conducting any land disturbance serves as a safeguard for wildlife, aiming to protect species such as bank swallows and preserve critical habitats such as their nests," MacDonald wrote. "Suncor ultimately failed to identify their error and take appropriate mitigative measures." Suncor had a system in place to monitor wildlife but the company said the program, contained in a spreadsheet, was not available at the time of the incident because of a cyberattack. A backup spreadsheet to track the wildlife program had been set up but company officials told investigators that the backup document was also not available at the time of the incident due to "information technology limitations." Suncor should have been on a heightened awareness and diligence. The regulator said the company demonstrated a lack of due diligence and failed to follow its own environmental policies. "With both Suncor's wildlife sighting tracking program and backup Excel spreadsheet not being available, Suncor should have been on a heightened awareness and diligence to ensure all workgroups were aware of the bank swallow nests to mitigate the potential of this contravention occurring," MacDonald wrote in her investigative report. "Even though Suncor had policies and procedures in place, these were not followed." According to the investigation, Suncor has since implemented additional measures to prevent similar incidents, including updating its wildlife protection policies to include a land disturbance checklist that will ensure mandatory sweeps are completed before potential bird habitat is disturbed by mining operations. The administrative penalty was formally issued on June 26. Suncor has 30 days to file an appeal.
